Do I need a Conveyancer or a Solicitor for my Property Transaction ?

When buying or selling a property in England and Wales you need to choose a property lawyer to act on your behalf. You can either choose a Solicitor to act on your behalf, who are regulated by the Solicitors Regulatory Authority, or you can choose a Licensed Conveyancer to act on your behalf, who are regulated by the Council for Licensed Conveyancers. Both Conveyancers and Solicitors are fully regulated and insured and often operate to very similar conveyancing practices and procedures.

Property solicitors are often not specialists in conveyancing and undertake other work such a matrimonial work or personal injury work to supplement their conveyancing work. This often means that they can be at Court or out of the office which can cause frustration in relation to client communication. Certain solicitors have specialised in conveyancing and are members of the Law Society Quality Standard which places them on an equal footing to Licensed Conveyancers.

The Difference Between Solicitors and Licensed Conveyancers

Licensed Conveyancers are specialist property lawyers. The vast majority only undertake residential conveyancing work whilst a handful undertake commercial property and probate work. All licensed conveyancers are office based ensuring good client communication at all times.

When choosing a Licensed Conveyancer or Solicitor to act on your behalf you need to consider a number of factors including price and most importantly, service. The past reputation of the legal practice should be ascertained by reference to the internet and other references. You need to ensure that you are going to receive the best possible service as buying or selling a property can be a stressful time as it constitutes one of the largest financial transactions that you are ever likely to undertake.

Licensed Conveyancers and Solicitors come in a variety of shapes and sizes from the sole practitioner to the multi partnered company. Some operate to very basic conveyancing procedures utilising the postal service. Modern conveyancing practices operate with state of the art case management systems and online case tracking facilities allowing their clients access to the up to date position on their transactions 24 hours a day 7 days a week.

Are Licenced Conveyancers Cheaper?

The difference between Conveyancing costs charged by Solicitors and those charged by Licensed Conveyancers is not that great. When comparing the average conveyancing fees, Licenced Conveyancers tend to be slightly cheaper overall. Low priced conveyancing quotes can be very tempting, but as we already mentioned you need to ensure that you receive the best possible service. The stress of buying or selling a property could be magnified by an incompetent and inadequate conveyancing service.

Choose the Highest Standards of Service with Property Transaction

You will need either a Licensed Conveyancer or a Solicitor in the event that you are conveying a property in England or Wales. It is unlikely that you will be able to convey your own property for regulation and insurance purposes. The choice is entirely yours – just make your decision carefully.

Property Transaction is a team of Licensed Conveyancers that can act, on your instruction, on your behalf to take care of the conveyancing process when buying, selling or remortgaging a property. Get a online conveyancing quote in under 10 seconds to see how much our professional and reliable services will cost you – and if you would like any more information please contact us.

Second Homes

If you or your husband / wife or any other party to this transaction own any other properties, you might have to pay a higher rate of Stamp Duty Land Tax (SDLT).

Property owners purchasing an additional property to their main residence in England, Wales and Northern Ireland will be affected by the rise in SDLT.
If you already own properties but plan to buy a permanent home to replace another, you are exempt from the paying the higher rate.

If you own two properties on the day of completion of the purchase of your second property but still legally own your first property and plan to sell, you are still obliged to pay the higher rate of SDLT.
A refund is available if you sell your former residence property within 36 months.

First Time Buyer

A first time buyer is defined as an individual or individuals who have never owned an interest in a residential property in the United Kingdom or anywhere else in the world and who intends to occupy the property as their main residence.

Property Tenure Type

There are two fundamentally different forms of legal ownership: freehold and leasehold.
If you own the freehold, it means that you own the building and the land it stands on outright.
With Leasehold, you own the lease from the freeholder (sometimes called the landlord) to use the home for a number of years.